Exchange operator Nasdaq said Tuesday it would open a regional headquarters in Texas, deepening its presence in a state that is fast emerging as a major financial hub rivaling New York.
Elon Musk-led Tesla and SpaceX, as well as tech giants Oracle and Hewlett Packard Enterprise, have all moved to the Lone Star State, attracted by a favorable tax climate, lower costs of living and reduced energy costs.
For Nasdaq, the move could also help it better compete with the New York Stock Exchange — which last month committed to launching an exchange in the state — and the Texas Stock Exchange, a venture backed by BlackRock and Citadel Securities, which is gearing up for a launch early next year.
For Nasdaq, the move could also help it better compete with the New York Stock Exchange — which last month committed to launching an exchange Texas.REUTERS
“It should be no surprise that there’s so much interest in bringing the capital markets to Texas… We’re proud to be leading the way in cementing Dallas as the financial capital of the world,” a spokesperson for the Texas Stock Exchange’s parent company, TXSE, said.
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Nasdaq did not specify its hiring plans for the new headquarters in Dallas.
However, it pledged additional investments to support its “broad range of clients in the region.”
A foothold in Texas could enhance the exchange’s reach among the state’s leading industries, including energy and manufacturing.
However, some observers remain cautious, indicating that they need a clearer roadmap to gauge the move’s potential.
“The opening of the regional office is more symbolic than substantive,” said Ross Carmel, partner at securities law firm Sichenzia Ross Ference Carmel.
Nasdaq lists over 200 Texas-based companies, with a combined market capitalization of $1.98 trillion as of December. The state also accounts for the largest number of listings on the NYSE.
China’s energy and auto giant BYD has announced an ultra fast EV charging system that it says is nearly as quick as a fill up at the pumps.
BYD, China’s largest EV maker, said Monday that its flash-chargers can provide a full charge for its latest EVs within five to eight minutes, similar to the amount of time needed to fill a fuel tank.
It plans to build more than 4,000 of the new charging stations across China.
BYD plans to build more than 4,000 of the new charging stations across China.AP
Charging times and limited ranges have been a major factor constraining the switch from gas and diesel vehicles to EVs, though Chinese drivers have embraced that change, with sales of battery powered and hybrid vehicles jumping 40% last year.
BYD, which stands for build your dreams, began pre-sales of its Han L and Tang L models, which are upgraded versions of earlier models.
The Chinese company started out making batteries and has been refining its battery and energy storage technology while building an auto empire that is expanding outside China.
It says its 1 megawatt flash chargers can provide power for nearly 250 miles in five minutes.
Ultra-high voltage and a large current are required to maximize charging speeds, BYD’s founder Wang Chuanfu said in a statement.
“To completely solve users’ anxiety over charging, our pursuit is to make the charging time for EVs as short as the refueling time for fuel vehicles,” Wang said.
BYD says its 1 megawatt flash chargers can provide power for nearly 250 miles in five minutes.AP
The company also said that its flash-charging system relies on silicon carbide power chips with voltage levels of up to 1,500V that it developed on its own. Its Blade lithium-iron phosphate battery is perhaps the world’s safest and most efficient EV battery, with Tesla opting to use it in some of its EVs, industry analyst Michael Dunne said in a recent report.
BYD reported it made just over 4.3 million “new energy vehicles” last year, up 41% from a year earlier, including 1.8 million battery electric vehicles and 2.5 million plug in hybrids.
The price of its shares traded on China’s smaller market in Shenzhen has surged nearly 50% in the past six months.
While BYD’s fanciest, latest premium models are expected to sell for up to about $40,000, it also makes much less expensive EVs including the Seagull, which sells for around $12,000 in China.
BYD started out making batteries and has been refining its battery and energy storage technology while building an auto empire that is expanding outside China. The battery of a BYD Seagull electric vehicle, above.AP
BYD barely nudged ahead of Tesla in production of battery-powered EVs in 2024, making 1,777,965 compared with Tesla’s 1,773,443.
In early January, Tesla said its sales dropped in 2024, a first in more than a dozen years, as rivals such as BMW, Volkswagen and BYD gained market shares with competitive EVs.
But BYD has weaknesses as well, Dunne said, noting that JD Power’s 2024 China New Energy Vehicle Initial Quality Study ranked the BYD Seal and BYD Song Plus battery electrics at the bottom of its rankings.
A website called “Dogequest” reportedly has published the personal information of Tesla owners nationwide in an apparent bid to shame and intimidate them as Elon Musk’s ties with the Trump White House have grown.
The site, called “Dogequest,” reportedly reveals the names, addresses and phone numbers of Tesla owners throughout the US using an interactive map — and uses an image of a Molotov cocktail as a cursor.
The site’s operators, who also posted the exact locations of Tesla dealerships, said that they will remove identifying information about Tesla drivers only if they provide proof that they sold their electric vehicles, according to 404 Media.
The site said that it would remove identifying information about Tesla drivers if they provide proof that they sold their electric vehicles.Dogequest News of the doxing site follows a string of reported incidents of vandalism aimed at Tesla drivers and dealerships in the wake of CEO Elon Musk’s high-profile role as head of the Trump administration’s Department of Government Efficiency (DOGE).
The website also hosts personal details allegedly belonging to employees of DOGE, according to the 404 Media report, though the authenticity of the information has not been confirmed.
It is unclear where the alleged Tesla owner data has been sourced from.
One section of the site is devoted to the question: “Is DOGEQUEST a protest platform?”
“If you’re on the hunt for a Tesla to unleash your artistic flair with a spray can, just step outside — no map needed! At DOGEQUEST, we believe in empowering creative expressions of protest that you can execute from the comfort of your own home.”
According to 404 Media, the site said that it would remove a Tesla owner’s data if they show proof that they sold their car.
Under the heading “I want my information removed,” the site says “Absolutely! Just provide us with proof that you’ve sold your Tesla.”
Tesla dealerships and vehicles have been vandalized in light of CEO Elon Musk’s role in President Trump’s administration. Musk is seen sitting with Trump inside a Tesla parked near the White House on March 11.AFP via Getty Images
One notable incident occurred earlier this month in Loveland, Colo., where a woman was arrested for attacking a Tesla dealership with an incendiary device.
Even owners of the recently released Cybertruck have reported regular incidents of harassment, including obscene gestures and verbal insults.
In addition to personal data of purported Tesla owners, “DOGEQUEST” shows locations for Tesla dealerships and approximate positions for the company’s supercharger stations.
The Post was unable to access “DOGEQUEST” on Tuesday after 404 Media published its report.
A spokesperson for the Justice Department was not available for comment.
Doxing is the act of publicly sharing someone’s private or personal information without their consent, often with the intent to harass, intimidate or harm them.
While sharing publicly available information may not always break the law, doxing can violate regulations related to harassment, stalking, threats, or invasion of privacy — potentially leading to criminal charges or civil lawsuits.
There is no single federal law in the United States that explicitly criminalizes doxing, but several federal statutes can be used to prosecute doxing-related offenses, depending on the circumstances.
Investigative outlet 404 Media confirmed that some individuals listed indeed own Teslas or have expressed public support for Tesla and Musk, though comprehensive verification has yet to be completed.
Tesla shares have fallen by more than 50% since the stock’s post-election surge this past fall.Samuel Corum/POOL via CNP/INSTARimages.com
404 Media also reported accurate listings for several Tesla dealerships but noted discrepancies in some plotted locations on the map.
Demonstrations branded as “Tesla Takedown” protests occur weekly across various US locations, frequently resulting in vandalism of Tesla vehicles, charging stations, and dealerships.
Tesla’s stock price dipped another 6% in the morning trading session on Wall Street on Tuesday.
As of noon, shares of the company were trading at around $230 — more than 50% lower than its all-time high of nearly $480 per share in mid-December.
